TCF Bank Personal Loans Review

US based subsidiary of a huge financial holding, TCF Bank has the richest net of branch offices in the country and offers a personalized and totally new approach to any financial matter, be it borrowing, smart banking or small business support.

Among numerous offered services personal loans occupy the leading positions.

They have been created to meet all possible needs and possibilities.

Let’s have a more precise look at the variety of personal loans provided by TCF Bank.

TCF Personal Loans

Below here are two officially offered personal loans types:

– Installment TCF Bank loans. Other names for this type of loan are all-purpose loan or signature loan.

It is essential for people who have little equity or do not have a personal apartment and just need a little sum of money for some urgent purposes, for instance, to install or change kitchen appliances, purchase new laptop, etc. Interest rates are fixed for this loan type and grant certain stability.

TCF Personal Loans

Besides you can improve your general credit score with the help of installment loan if you return the loan in time without delays.

– Personal line of credit is also associated with personal credit card although it offers more pretty interest rates.

A borrowed amount can be used any time the need arises; still it also should be returned within fixed time and for variable interest rates.

Both mentioned types have free application, rather flexible terms and agreeable interest rates.

Moreover, they do not require real-estate collateral and can be unsecured once.

The main difference between these two personal loans of TCF Bank is that personal line of credit offers more flexibility to the customer while installment loan provides a fast situational decision.

What’s Better: Secured or Unsecured Loan?

As you probably know, all loans are also divided into secured and unsecured ones. It means that in the first case you need either your property or your car as loan collateral while for unsecured loans collateral is not required.

Besides, secured loans are all about high credit score which is usually checked prior to approval.

Having a difficult financial situation the only solution for me was to take a loan. Even though, TCF Bank personal loan had some drawbacks (I later learnt about them) it worked fine for me. The interest rate was not the lowest, since my credit history was not excellent, though the terms and other conditions were rather beneficial. The main advantages of the loan were fast and free application, variable interest rates and convenient conditions.